Beacon VC, the corporate venture capital arm (CVC) of Thailand’s Kasikornbank (KBank), has received around $30 million from its parent company to set up a dedicated impact investing fund, Beacon Impact Fund, according to a company release.
The Thailand-focused fund aims at investing in post-revenue startups with sustainable business models and solutions.
The fund is targeting companies that can create quantifiable, sustainable, and scalable impact in areas such as decarbonisation, waste reduction, climate adaptation, financial and digital inclusion, access to healthcare, consumer protection, supply chain visibility and business transparency.
“As a long-time leader in the Thai venture capital industry, we see a great opportunity to support passionate entrepreneurs, both in Thailand and throughout the region, who are looking to make a difference in the world,” said Thanapong Na Ranong, Managing Director, Beacon VC.
“We firmly believe that consumers want to support sustainability and inclusivity, and that technology can make it easier for them to express their preferences and incentivize businesses to consider both the positive and negative impact of their operations.”
2022 has been one of the most active years for Beacon, which has invested in over five companies, including Primo, T2P, Robowealth, Forward, and Vui App.
| Date | Startup | Fundraising ($) | Funding round | Sector | Location |
|---|---|---|---|---|---|
| Oct 2022 | Vui App | Undisclosed | Pre-Series A | Fintech | Vietnam |
| Sep 2022 | Forward | 5 million | Seed | DeFi | Thailand |
| Aug 2022 | Roboweath | Undisclosed | Series A | Wealthtech | Thailand |
| Aug 2022 | T2P | Undisclosed | Undisclosed | Fintech | Thailand |
| Feb 2022 | Primo | Undisclosed | Pre-Series A | Marketing | Thailand |
| Dec 2021 | Cryptomind | Undisclosed | Undisclosed | Cryptocurrency | Thailand |
| Aug 2021 | FlowAccount | 1.15 million | Pre-Series A | Fintech | Thailand |
| Jul 2021 | NIUM | 200 million | Series D | Fintech | Singapore |
| Jun 2021 | Carro | 360 million | Series C | Automotive | Singapore |
| May 2021 | FoodStory | Undisclosed | Series B | Technology | Thailand |
| Mar 2021 | BuilkOne Group [Exited] | Undisclosed | Series B | Technology | Thailand |
| May 2020 | Digio | 4 million | Series B | Fintech | Thailand |
| Nov 2019 | Workmate [Exited] | 5.2 million | Series A | Technology | Singapore |
| Jun 2019 | Grab | 50 million | Undisclosed | Technology | Thailand |
| Mar 2019 | Horganice | Undisclosed | Seed | Proptech | Thailand |
| Feb 2019 | Jitta | 6.5 million | Pre-Series A | Fintech | Thailand |
| Sep 2019 | Aspire | 32.5 million | Series A | Fintech | Singapore |
| Mar 2018 | Ookbee | Undisclosed | Undisclosed | Technology | Thailand |
| Sep 2017 | EventPop [Exited] | Undisclosed | Series A | Technology | Thailand |
| Undisclosed | Buzzebees | Undisclosed | Undisclosed | Technology | Thailand |
Its fund size reached $265 million in the same year, according to information on its website.
Beacon was founded in 2017 with an initial capital of $30 million. The company has 17 startups under its portfolio, per data compiled by DealStreetAsia. The investment unit currently has no plans to raise capital from external investors.
Besides Beacon, KBank manages another investment arm KVision that is focused on investments in Southeast Asia, Japan, South Korea, and China.